IEC Electronics (IEC) Stock Rating Lowered by Zacks Investment Research
IEC Electronics (NYSE:IEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “IEC Electronics Corp. is a full service, ISO 9001 and 9002 certified, contract manufacturer employing state-of-the-art production utilizing both surface mount and pin-through-hole technology. IEC offers its customers a wide range of manufacturing and management services, on either a turnkey or consignment basis, including design prototyping, material procurement and control, concurrent engineering services, manufacturing and test engineering support, statistical quality assurance and complete resource management. (PRESS RELEASE) “
Several other research firms have also commented on IEC. B. Riley reissued a “buy” rating and issued a $6.50 target price on shares of IEC Electronics in a report on Saturday, September 3rd. TheStreet raised IEC Electronics from a “sell” rating to a “hold” rating in a report on Friday, August 26th.
IEC Electronics (NYSE:IEC) opened at 3.92 on Friday. The firm has a market cap of $40.27 million and a PE ratio of 8.39. The stock has a 50 day moving average price of $4.77 and a 200 day moving average price of $4.65. IEC Electronics has a one year low of $2.59 and a one year high of $5.64.
IEC Electronics (NYSE:IEC) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The company earned $32.50 million during the quarter, compared to analyst estimates of $32.99 million. Equities research analysts expect that IEC Electronics will post $0.58 EPS for the current year.
A hedge fund recently raised its stake in IEC Electronics stock. Walthausen & Co. LLC raised its stake in shares of IEC Electronics (NYSE:IEC) by 60.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Walthausen & Co. LLC owned approximately 0.78% of IEC Electronics worth $332,000 as of its most recent SEC filing.
About IEC Electronics
IEC Electronics Corp. provides electronic contract manufacturing services (EMS) to companies in various industries that require advanced technology. The Company specializes in the custom manufacture of circuit board and system-level assemblies; a range of cable and wire harness assemblies capable of withstanding extreme environments, and precision metal components.
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